Another Green Company Bites the Dust!!! MA Solar Company, Evergreen Solar…MOVES TO CHINA!

15 Mar

THAT WAS THEN………..

By Greg Turner And Jerry Kronenberg Monday, August 15, 2011 – Updated 7 months ago

Evergreen Solar Inc., the Massachusetts clean-energy company that received millions in state subsidies from the Patrick administration for an ill-fated Bay State factory, has filed for bankruptcy, listing $485.6 million in debt.

Evergreen, which closed its taxpayer-supported Devens factory in March and cut 800 jobs, has been trying to rework its debt for months. The cash-strapped company announced today has sought a reorganization in U.S. Bankruptcy Court in Delaware and reached a deal with certain note holders to restructure its debt and auction off assets.

PHOTO BY: Ted Fitzgerald

The Green Energy Firm of Patrick Chu Obama

THIS IS NOW!

Evergreen Solar Seeks OK To Abandon Mass. Plant

    Tue, 03/13/2012 – 1:44pm

BOSTON (AP) — Evergreen Solar is asking a bankruptcy judge for permission to walk away from its former plant in Devens.

The company, which received tens of millions in state aid before shuttering its facilities last year and moving its manufacturing operations to China, filed the notice in federal bankruptcy court in Delaware on Monday.

Interested parties including MassDevelopment, which helps finance and develop new projects, have until Friday to respond to the filing.

A spokeswoman for MassDevelopment declined comment Tuesday, saying the filing speaks for itself.

Evergreen received more than $20 million in grants and $11 million in tax and lease initiatives from Massachusetts. That doesn’t include other tax benefits and millions in upgrades to roads and utilities around the plant.

Gov. Deval Patrick championed Evergreen Solar early in his first term.

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